• Introduction
    • OVERVIEW
    • INTRODUCTION TO THE STANDARD BANK GROUP
    • OUR REPORTING SUITE
    • A LETTER FROM OUR CEO
    • STAKEHOLDER ENGAGEMENT
    • ASSURANCE STATEMENT
     
     
     
     
     
     
  • SEE impact areas
    • OVERVIEW
    • IMPACT REPORTING
    • 1.
      FINANCIAL INCLUSION
    • 2.
      JOB CREATION AND ENTERPRISE DEVELOPMENT
    • 3.
      INFRASTRUCTURE
    • 4.
      AFRICA TRADE AND INVESTMENT
    • 5.
      EDUCATION AND SKILLS DEVELOPMENT
    • 6.
      EMPLOYEE DEVELOPMENT AND TRAINING
     
     
  • ESG
    • OVERVIEW
    • ABOUT THIS REPORT
    • MANAGING E&S RISKS AND OPPORTUNITIES
    • OUR DIRECT ENVIRONMENTAL PERFORMANCE
    • VALUING OUR PEOPLE
    • INVESTING IN COMMUNITIES
    • PROMOTING SOUND GOVERNANCE AND INTEGRITY
    • ESG METRICS AND POLICIES
     
     
  • Transformation
    • OVERVIEW
    • INTRODUCTION
    • A LETTER FROM SBSA CE: LUNGISA FUZILE
    • STANDARD BANK’S BEE SCORECARD
    • WHERE TO FIND MORE INFORMATION
     
     
     
     
     
Investing in communities

Africa’s growth depends on her people having access to quality education, and the promotion of skills training and lifelong learning opportunities in the context of the fourth industrial revolution.

Investing in communities

Standard Bank aims to create shared value through our corporate social investment (CSI) initiatives – addressing social needs in a sustainable manner, while also seeking business opportunities.

Our corporate social investment policy in South Africa insures that our initiatives continue to drive value for all stakeholders, by ensuring that our CSI initiatives deliver in respect of:

  • Enhancing our reputation;
  • Improving our employee experience;
  • Situating us favourably in the competition for client business;
  • Growing new markets; and/or
  • Demonstrating that we are locally relevant and responsive.

In South Africa, the Financial Sector Code requires us to spend 0.6% of net profit after tax on socioeconomic development. We focus our investment in education, with the objective of enhancing access to quality education for all, from early childhood development to higher education, and improving educational outcomes. Education spend accounted for just under R96.6 million, about 68% of our total CSI spend of R141.2 million, in 2018. Standard Bank SA’s total CSI spend amounts to 0.88% of net profit after tax.

Read more in Reporting to Society

Our corporate social investment programmes focus primarily, but not exclusively, on education, from early childhood development to tertiary education. In South Africa, Standard Bank’s Tutuwa Community Foundation, established following the conclusion of Standard Bank’s Tutuwa black economic empowerment deal, supports a range of child development, educational initiatives, and youth work readiness schemes.

Dr Wendy Orr
quote
Dr Wendy Orr
HEAD: GROUP INCLUSION, STANDARD BANK GROUP
“Focused and deliberate corporate social investments contribute to the social and economic transformation of the countries in which we operate. This is a critical contribution that the bank can make towards growing Africa and achieving our purpose. Properly implemented CSI demonstrates that the bank is a responsible and responsive corporate citizen.”
SUPPORTING EARLY CHILDHOOD DEVELOPMENT
 
SUPPORTING EARLY CHILDHOOD DEVELOPMENT

Extensive empirical research has demonstrated that developmental stimulation during the earliest years of childhood is critical to future intellectual, emotional and physical wellbeing. In South Africa, Standard Bank and the Tutuwa Community Foundation support early childhood development (ECD) through a number of targeted initiatives. We invested more than R11.6 million in 2018.

Tutuwa
Tutuwa
The Tutuwa Community Foundation in collaboration with the DG Murray Trust and the National Department of Social Development aims to improve the effectiveness of the ECD Conditional Grant implementation. If the project is successful and achieves the defined outcomes, National Treasury will institutionalise the ECD conditional grant framework. This will provide greater equity and access, improved efficiencies, and improved delivery of ECD programmes for the children being subsidised.
The Tutuwa Community Foundation is part of the Impact Bond Innovation Fund (IBIF), a first-of-its-kind social impact bond for ECD. The IBIF was launched in September 2018, in collaboration with Mothers2Mothers and Foundations for Community Work. It’s led by the Western Cape Department of Social Development, in a matched funding arrangement with ApexHi Charitable Trust, and supported by a coalition of investors, including Tutuwa. With an investment of R3.5 million over three years, the IBIF aims to improve the cognitive and socio-emotional development outcomes of more than 3 000 children in two low-income communities in the Western Cape. If successful, the IBIF model could be replicated and scaled up, creating a new model for public-private funding to tackle pressing social challenges.
The Tutuwa Foundation and Standard Bank CSI
are investing in upskilling ECD practitioners. The Tutuwa Foundation partners with the Bright Kid Foundation, while Standard Bank CSI works with the Ntataise Lowveld Trust in Mpumalanga and Fundisani Thuto in the Eastern Cape.
SUPPORTING QUALITY SCHOOLING
 
SUPPORTING QUALITY SCHOOLING

We support primary and secondary school interventions in several of our countries of operation. Our programmes include teacher support for crucial subjects, as well as learning materials for both teachers and pupils.

Teacher upskilling
Teacher upskilling

Teaching and learning materials
Teaching and learning materials
Sponsorship
Sponsorship of N6.3 million (R250 000)
SOUTH AFRICA

South Africa In South Africa, our focus is primarily on supporting the teaching of mathematics and science through teacher upskilling, Saturday school programmes and other programmes which aim to prepare high school learners for tertiary education through a focus on academic support together with leadership skills, self-mastery and study skills. In 2018, we invested in:

  • After-school and Saturday tutoring sessions for 225 learners in Grades 9 to 12, across three provinces, through the Ikamva Youth Development Programme.
  • Participation of 50 learners from six schools in three provinces in the Wits University Targeting Talent Programme, which engages with learners from Grade 10 through to 12 to support university readiness.
  • Scholarships for young people from disadvantaged communities to attend high-performing public and independent schools.
  • Ongoing participation in the National Education Collaboration Trust, a collaboration between businesses, labour, civil society and government to influence and support the implementation of government’s education reform agenda in primary and secondary schools.
STANBIC BANK GHANA

Ghana Stanbic Bank Ghana supports the Medie Presby 2 Basic and Junior High School in the Greater Accra Region. In 2018, we provided teachers and pupils with teaching and learning materials and a monetary donation. Stanbic employees also participated with pupils in interactive discussions on drug abuse, teenage pregnancies and creating a savings culture. We’re also funding the refurbishment of the school’s sick bay, providing the necessary drugs and first aid equipment. We’ve selected 15 children for Stanbic’s Student Mentor Scheme – they’ll receive advice, guidance and material support to help them become the next generation of Ghanaian professionals.

STANBIC IBTC NIGERIA

IBTC Nigeria Stanbic IBTC Nigeria is sponsoring 10 indigent children, aged six to 18, to get them back to school. Our sponsorship of N6.3 million (R250 000) covers tuition fees, uniforms, books and other essential supplies. We’re working with a partner organisation to provide all-round development for the children, helping to provide them with a solid foundation. We’ve also created a N1.5 million (R60 000) education trust for the Together4 A Limb initiative that supports indigent children who have lost limbs to access quality education and live a full life. The initiative, launched in 2017, has benefited 19 young Nigerians.

  • SOUTH AFRICA
  • STANBIC BANK GHANA
  • STANBIC IBTC NIGERIA

South Africa In South Africa, our focus is primarily on supporting the teaching of mathematics and science through teacher upskilling, Saturday school programmes and other programmes which aim to prepare high school learners for tertiary education through a focus on academic support together with leadership skills, self-mastery and study skills. In 2018, we invested in:

  • After-school and Saturday tutoring sessions for 225 learners in Grades 9 to 12, across three provinces, through the Ikamva Youth Development Programme.
  • Participation of 50 learners from six schools in three provinces in the Wits University Targeting Talent Programme, which engages with learners from Grade 10 through to 12 to support university readiness.
  • Scholarships for young people from disadvantaged communities to attend high-performing public and independent schools.
  • Ongoing participation in the National Education Collaboration Trust, a collaboration between businesses, labour, civil society and government to influence and support the implementation of government’s education reform agenda in primary and secondary schools.

Ghana Stanbic Bank Ghana supports the Medie Presby 2 Basic and Junior High School in the Greater Accra Region. In 2018, we provided teachers and pupils with teaching and learning materials and a monetary donation. Stanbic employees also participated with pupils in interactive discussions on drug abuse, teenage pregnancies and creating a savings culture. We’re also funding the refurbishment of the school’s sick bay, providing the necessary drugs and first aid equipment. We’ve selected 15 children for Stanbic’s Student Mentor Scheme – they’ll receive advice, guidance and material support to help them become the next generation of Ghanaian professionals.

IBTC Nigeria Stanbic IBTC Nigeria is sponsoring 10 indigent children, aged six to 18, to get them back to school. Our sponsorship of N6.3 million (R250 000) covers tuition fees, uniforms, books and other essential supplies. We’re working with a partner organisation to provide all-round development for the children, helping to provide them with a solid foundation. We’ve also created a N1.5 million (R60 000) education trust for the Together4 A Limb initiative that supports indigent children who have lost limbs to access quality education and live a full life. The initiative, launched in 2017, has benefited 19 young Nigerians.

quality Shooling
Quality Shooling
MALAWI

Malawi In Malawi, we support a mentorship programme for girls, run in partnership with Malawi’s Ministry of Education and UNICEF. Female employees of the partner agencies, together with Malawi Girl Guides, visit rural areas to mentor girls on career development and financial literacy. The programme, which has been running since 2016, is currently mentoring 230 girls. There has been a visible improvement in the academic ranking of girls. 25 Standard Bank employees participated as mentors, with an investment from Standard Bank of MK4.2 million (R83 000).

STANBIC MALAWI

Malawi Stanbic Malawi’s Bring the Girl Child to Work campaign, launched in 2017, saw 246 girls participating in 2018. Our investment in the programme was MK10 million (R198 000), with participation from 85 Stanbic employees in three locations.

WEALTH PARTNERS

Ghana Wealth partners with three charities to support education and long-term sustainable development in Uganda and Ghana. In 2018, we supported the construction of two pre-primary school classrooms in Western Ghana, in partnership with Island Aid for World Children; we raised GBP32 000 (R586 000) for Mifumi Primary School in Uganda; and we continued our partnership with Send a Cow, investing GBP13 300 (R244 000) in the Orphans Project in Uganda to fund skills development.

SOUTH AFRICA

South Africa Without a solid grounding in numeracy, literacy and life-skills in the foundation phase of schooling, children will struggle to perform to their full potential in further schooling and higher education. In South Africa, Standard Bank CSI works in partnership with a range of organisations to improve the teaching of foundation skills through a focus on upskilling teachers in numeracy, literacy and life-skills teaching, largely through in-classroom mentoring by skilled and experienced retired educators. In some instances, the mentoring is supplemented with workshops, the provision of learner workbooks and literacy workshops for parents. We also fund the Little African Scientist Project, which forms part of the teacher development programme run by the Faculty of Education at North West University. It aims to support foundation phase teachers in mathematics and science education.

  • MALAWI
  • STANBIC MALAWI
  • WEALTH PARTNERS
  • SOUTH AFRICA

Malawi In Malawi, we support a mentorship programme for girls, run in partnership with Malawi’s Ministry of Education and UNICEF. Female employees of the partner agencies, together with Malawi Girl Guides, visit rural areas to mentor girls on career development and financial literacy. The programme, which has been running since 2016, is currently mentoring 230 girls. There has been a visible improvement in the academic ranking of girls. 25 Standard Bank employees participated as mentors, with an investment from Standard Bank of MK4.2 million (R83 000).

Malawi Stanbic Malawi’s Bring the Girl Child to Work campaign, launched in 2017, saw 246 girls participating in 2018. Our investment in the programme was MK10 million (R198 000), with participation from 85 Stanbic employees in three locations.

uganda ghana Wealth partners with three charities to support education and long-term sustainable development in Uganda and Ghana. In 2018, we supported the construction of two pre-primary school classrooms in Western Ghana, in partnership with Island Aid for World Children; we raised GBP32 000 (R586 000) for Mifumi Primary School in Uganda; and we continued our partnership with Send a Cow, investing GBP13 300 (R244 000) in the Orphans Project in Uganda to fund skills development.

South Africa Without a solid grounding in numeracy, literacy and life-skills in the foundation phase of schooling, children will struggle to perform to their full potential in further schooling and higher education. In South Africa, Standard Bank CSI works in partnership with a range of organisations to improve the teaching of foundation skills through a focus on upskilling teachers in numeracy, literacy and life-skills teaching, largely through in-classroom mentoring by skilled and experienced retired educators. In some instances, the mentoring is supplemented with workshops, the provision of learner workbooks and literacy workshops for parents. We also fund the Little African Scientist Project, which forms part of the teacher development programme run by the Faculty of Education at North West University. It aims to support foundation phase teachers in mathematics and science education.

Harry Opoku Agyemang
HEAD OF PERSONAL MARKETS, STANBIC GHANA
“Education remains an effective tool to a self-sustainable country which is able to lessen and possibly eradicate the inequality gap on many levels, hence our pledge to support education.”
Quote
Our bursary programmes support deserving students to obtain degrees in critical skills areas. We also partner with government institutions in some countries. In 2018, we funded 389 students.

We provided 296 bursaries for students at South African universities, to the value of R35.7 million. 130 of these bursaries were directly awarded and managed by Standard Bank and 166 were funded through the Ikusasa Financial Aid Programme (ISFAP). ISFAP is a public-private partnership between government and corporates, aimed specifically at addressing the funding gap for the so-called ‘missing middle’. In 2017, Standard Bank funded full cost bursaries for 172 students. We continued to fund these students in 2018, less the six that exited the programme.

In 2018, 12 of our bursary recipients who graduated in 2017 were employed by Standard Bank. They include:

Lindokuhle Twala
Lindokuhle Twala,
who received a bursary to complete his engineering degree from the University of KwaZulu-Natal. While studying, he worked as a petrol attendant to support his family. In 2018, he joined the bank’s graduate programme.
Mmakole Mphalele
Mmakole Mphalele,
the first person in her family to be awarded a degree. She excelled in her internship at the bank in 2017, earning further sponsorship to complete her postgraduate degree in risk management. She’ll be joining the bank’s risk graduate programme in 2019.
Olwethu Myeza
Olwethu Myeza,
who received a bursary in 2015 to study computer science at the University of Cape Town. Circumstances delayed the completion of his studies, but his resilience and tenacity caught the attention of our leaders who offered him mentorship in his final year. He graduated in 2018 and will participate in a Standard Bank graduate development programme in 2019.
Standard Bank and the University of Johannesburg have partnered to support 10 exceptional students through their undergraduate and post-graduate studies, through the Actuationist programme. Two of these students started their careers in Standard Bank in 2019.
We also run specific bursary programmes in key countries in Africa Regions. For example: Standard Bank Malawi has launched a MK120 million (USD165 000) bursary programme, to run for four years. Bursaries have been provided to six students from each of the five public universities in Malawi, totalling 30 students.
The Standard Bank Chairman’s Scholarship (previously known as the Derek Cooper Scholarship) welcomed its fourth intake of 10 students in October 2018. Our 2018 investment of R7.8 million brings the total number of beneficiaries to 33, across eight African countries (South Africa, Ghana, Zambia, Nigeria, Uganda, Tanzania, Kenya and Zimbabwe). The scholarship is awarded to a small number of exceptional African graduates, who we believe have the potential to become influential leaders in business, politics and/or civil society, to pursue post-graduate studies at top international universities. Our alumni include:
Zainab Haruna
Zainab Haruna,
who completed an MSc in African development in 2017, at the London School of Economics and Political Science and has established a youth-led social enterprise in her home country, Nigeria, aimed at building entrepreneurs and sustainable enterprises and improving the quality of education.
Lesego Holzapfel
Lesego Holzapfel,
who has co-founded Raise the Children International, a registered non-profit organisation in South Africa which supports orphans from impoverished and rural communities and mobilises resources for these children to access higher education. As a former volunteer teacher in a rural school near her hometown of Mmabatho, Lesego believes in education-based solutions to poverty. She’s also the founder and CEO of Bokamoso Impact Investments, a social enterprise dedicated to uplifting remote underdeveloped areas of the country through agriculture and entrepreneurship.